The share of homes with values topping $1 million rose from 1.6 percent to 3 percent nationwide between 2012 and 2016.
Real estate website Trulia says that in many major cities, million dollar homes are becoming more common.
Following the report in a separate article, Marketplace reporter Mark Garrison writes:
The share of homes with values topping $1 million rose from 1.6 percent to 3 percent nationwide between 2012 and 2016. But many major metro areas are seeing far more dramatic increases. Some 57 percent of San Francisco homes are now worth a million or more, up from 20 percent in 2012. Areas outside Silicon Valley are also seeing big jumps.
Some of this simply reflects overall rising housing prices, pushing more homes into seven-figure territory. But that’s not the whole story.
“Most construction today is actually in the middle to upper end,” said Trulia chief economist Ralph McLaughlin.
FULL STORY: Million-dollar homes are no longer anything special
Where Million-Dollar Homes Are the Norm
Recent data from Trulia reveals that the number of homes worth at least million dollars doubled in the past four years. Some places have a veritable monopoly on ritzy domiciles.
Median Home Prices Top $1 Million in Over 200 California Towns
Towns once known for their affordability are seeing sharply rising home prices.
The ‘Lock-In Effect’ Keeping Home Prices High
Housing prices dropped slightly last year, but first-time and middle-income buyers found little price relief due to the “lock-in effect” of the historically low interest rates in effect for more than a decade prior to 2022.
Maui's Vacation Rental Debate Turns Ugly
Verbal attacks, misinformation campaigns and fistfights plague a high-stakes debate to convert thousands of vacation rentals into long-term housing.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
In Urban Planning, AI Prompting Could be the New Design Thinking
Creativity has long been key to great urban design. What if we see AI as our new creative partner?
Car Designs Make it Harder to See Pedestrians
Blind spots created by thicker pillars built to withstand rollover crashes are creating dangerous conditions for people outside vehicles.
Cal Fire Chatbot Fails to Answer Basic Questions
An AI chatbot designed to provide information about wildfires can’t answer questions about evacuation orders, among other problems.
What Happens if Trump Kills Section 8?
The Trump admin aims to slash federal rental aid by nearly half and shift distribution to states. Experts warn this could spike homelessness and destabilize communities nationwide.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Appalachian Highlands Housing Partners
Gallatin County Department of Planning & Community Development
Heyer Gruel & Associates PA
Mpact (founded as Rail~Volution)
City of Camden Redevelopment Agency
City of Astoria
City of Portland
City of Laramie